Ups and Downs - first week in Oz
#1
Ups and Downs - first week in Oz
Just a quick entry to give you an insight into my first week in OZ.
We arrived on 25th August and are currently staying with sister on Sunshine Coast.
Got the main paperwork sorting - filed for tax ref number, registered to teach (supply) locally, bank accounts sorted etc. Found that my first direct bank very helpful as will exchange money with just a phone call and will deal with live rates as they are trading live so you can see the trading rates and ring them straight away to arrange a transfer of funds. HSBC not too helpful and also wanted $2000 to open an account in OZ even though I said I would have money to transfer in.
So have a Commonwealth Bank account now.
Have had to use Medicare in the first week of being here - daughter broke toe in McDonalds play area! Cost $35 for consultation with dr but will get $25 back - X-ray was bulk billed so cost me nothing! $20 deposit for crutches - will get back upon their safe return.
On the work front - got a couple of days relief work in a local school so not too bad.
House prices (Sunshine Coast)- gone mad over last year or so - not much under $300000 and land prices soaring - may have to move further North to get what we want for the money we can spend.
Weather good - cool at night 9-10 degrees - 24-27 in the day time.
Fast food - cheap - other food similar to home.
Bye for now
The jacksons
We arrived on 25th August and are currently staying with sister on Sunshine Coast.
Got the main paperwork sorting - filed for tax ref number, registered to teach (supply) locally, bank accounts sorted etc. Found that my first direct bank very helpful as will exchange money with just a phone call and will deal with live rates as they are trading live so you can see the trading rates and ring them straight away to arrange a transfer of funds. HSBC not too helpful and also wanted $2000 to open an account in OZ even though I said I would have money to transfer in.
So have a Commonwealth Bank account now.
Have had to use Medicare in the first week of being here - daughter broke toe in McDonalds play area! Cost $35 for consultation with dr but will get $25 back - X-ray was bulk billed so cost me nothing! $20 deposit for crutches - will get back upon their safe return.
On the work front - got a couple of days relief work in a local school so not too bad.
House prices (Sunshine Coast)- gone mad over last year or so - not much under $300000 and land prices soaring - may have to move further North to get what we want for the money we can spend.
Weather good - cool at night 9-10 degrees - 24-27 in the day time.
Fast food - cheap - other food similar to home.
Bye for now
The jacksons
#2
Wow all that in a week,whenever we've been it's taken that long just to get over the jet lag.
Thanks for the info about HSBC we were going to use them as thats who we're with in UK but I'll have a rethink now.
The medicare system seems fair enough I hope you get your money back swiftly,I cant help thinking that if this was in UK you'd be waiting for months.
Good luck in OZ!
Thanks for the info about HSBC we were going to use them as thats who we're with in UK but I'll have a rethink now.
The medicare system seems fair enough I hope you get your money back swiftly,I cant help thinking that if this was in UK you'd be waiting for months.
Good luck in OZ!
#3
Great to hear from you.
Let me know what you think of the schools out there, when you get a chance!
The prices do seem to keep going up and up. I think the houses we have looked at last year are about $100 000 more now!! Typical, never mind they are still cheaper than over here.
Keep in touch
Let me know what you think of the schools out there, when you get a chance!
The prices do seem to keep going up and up. I think the houses we have looked at last year are about $100 000 more now!! Typical, never mind they are still cheaper than over here.
Keep in touch
#4
Re: Ups and Downs - first week in Oz
thanks for info....i have first direct as well n the uk and was planning to open online hsbc account so info useful. when u mean live transfer...u mean into ur new commonwealth account? did u have to call first direct here? i dont think they have a branch in oz ...i do think they are the most helpful bank!
#5
Pass The Post
Joined: Mar 2003
Location: Ping Ponged York via Melbourne and now pinged to Ferny Hills, Brisbane
Posts: 1,177
I have had no problems setting up an account with the HSBC from the UK prior to arrival and will be able to transfer funds in from my LloydsTSB account once I give them the go ahead to exchange at a rate I am happy with.
Also the bank charges with the Commonwealth are bad compared with the HSBC. Each to their own but with $2000 in the HSBC account you get a decent interest rate 4.1% I think
Jo
Also the bank charges with the Commonwealth are bad compared with the HSBC. Each to their own but with $2000 in the HSBC account you get a decent interest rate 4.1% I think
Jo
#7
Hi
Regarding the HSBC - yes I think if you know exactly where you are going to be then the HSBC is ok but the nearest branch to us on Sunshine Coast is in Brisbane which is 60 miles away. I have opened a Commonwealth bank in local town which is much more personal and I have a savings rate of 4.4% so a good rate of interest. HSBC only ask if you are waiting at this end to open an account - I did argue that I already have an account over in the UK and that I had a lot of money to transfer but that made no difference.
First Direct transfered my money into Commonwealth bank - no problem. By a live rate I mean that they go by the current trading rates which change every 2 minutes or so rather than setting a rate for the day - if you think the rate is good you can ring then and get the rate for that precise minute and set it there and then. I think Commonwealth bank in London will also do a rate watch for you - you set a rate at which you`d like to exchange and they will exchange your money if the rate reaches what you want - of course it may never reach what you want and you are left with sterling. The chap I spoke to at the Commonwealth Bank said the longer term forcasts were that the Aussie Dollar would be worth about $2.33 to the pound by the end of the year - who knows.
Sarah
Regarding the HSBC - yes I think if you know exactly where you are going to be then the HSBC is ok but the nearest branch to us on Sunshine Coast is in Brisbane which is 60 miles away. I have opened a Commonwealth bank in local town which is much more personal and I have a savings rate of 4.4% so a good rate of interest. HSBC only ask if you are waiting at this end to open an account - I did argue that I already have an account over in the UK and that I had a lot of money to transfer but that made no difference.
First Direct transfered my money into Commonwealth bank - no problem. By a live rate I mean that they go by the current trading rates which change every 2 minutes or so rather than setting a rate for the day - if you think the rate is good you can ring then and get the rate for that precise minute and set it there and then. I think Commonwealth bank in London will also do a rate watch for you - you set a rate at which you`d like to exchange and they will exchange your money if the rate reaches what you want - of course it may never reach what you want and you are left with sterling. The chap I spoke to at the Commonwealth Bank said the longer term forcasts were that the Aussie Dollar would be worth about $2.33 to the pound by the end of the year - who knows.
Sarah
#8
Originally posted by The Jacksons
Hi
Regarding the HSBC - yes I think if you know exactly where you are going to be then the HSBC is ok but the nearest branch to us on Sunshine Coast is in Brisbane which is 60 miles away. I have opened a Commonwealth bank in local town which is much more personal and I have a savings rate of 4.4% so a good rate of interest. HSBC only ask if you are waiting at this end to open an account - I did argue that I already have an account over in the UK and that I had a lot of money to transfer but that made no difference.
First Direct transfered my money into Commonwealth bank - no problem. By a live rate I mean that they go by the current trading rates which change every 2 minutes or so rather than setting a rate for the day - if you think the rate is good you can ring then and get the rate for that precise minute and set it there and then. I think Commonwealth bank in London will also do a rate watch for you - you set a rate at which you`d like to exchange and they will exchange your money if the rate reaches what you want - of course it may never reach what you want and you are left with sterling. The chap I spoke to at the Commonwealth Bank said the longer term forcasts were that the Aussie Dollar would be worth about $2.33 to the pound by the end of the year - who knows.
Sarah
Hi
Regarding the HSBC - yes I think if you know exactly where you are going to be then the HSBC is ok but the nearest branch to us on Sunshine Coast is in Brisbane which is 60 miles away. I have opened a Commonwealth bank in local town which is much more personal and I have a savings rate of 4.4% so a good rate of interest. HSBC only ask if you are waiting at this end to open an account - I did argue that I already have an account over in the UK and that I had a lot of money to transfer but that made no difference.
First Direct transfered my money into Commonwealth bank - no problem. By a live rate I mean that they go by the current trading rates which change every 2 minutes or so rather than setting a rate for the day - if you think the rate is good you can ring then and get the rate for that precise minute and set it there and then. I think Commonwealth bank in London will also do a rate watch for you - you set a rate at which you`d like to exchange and they will exchange your money if the rate reaches what you want - of course it may never reach what you want and you are left with sterling. The chap I spoke to at the Commonwealth Bank said the longer term forcasts were that the Aussie Dollar would be worth about $2.33 to the pound by the end of the year - who knows.
Sarah
:scared: :scared:
#10
Originally posted by The Jacksons
The chap I spoke to at the Commonwealth Bank said the longer term forcasts were that the Aussie Dollar would be worth about $2.33 to the pound by the end of the year - who knows.
The chap I spoke to at the Commonwealth Bank said the longer term forcasts were that the Aussie Dollar would be worth about $2.33 to the pound by the end of the year - who knows.
In the short term, who knows what it'll do.
#11
I've never looked into this but there must be some forward exchange data published, this will give the market's view of where the dollar is headed relative to the pound. There is no better source of information.
#12
Joined: Aug 2003
Posts: 11,149
http://www.westpac.com.au/forms/fore...0808382&page=3
I have no idea how to interpret the above page but it is for forward forex margins. It must be some indicator.
I have no idea how to interpret the above page but it is for forward forex margins. It must be some indicator.
#13
The negatives suggest a slight weakening in strength of the $AU in the near term (one year) with (depending on which rate you use) the rate going from $1= 2.39 to $1=2.42.
These rates are based on internatinal money market rates and therefore everyone in the world who trades these currencies. These people take account of all potential issues which they think will affect rates going forward, the market prices then act as the average of all these opinions.
Whist the actual forward rate now may not come to pass, it is the current view. Any individual who thinks that they can guess currency movements better than the average of every trader in the world should seek employment and their fortune as a currency speculator.
These rates are based on internatinal money market rates and therefore everyone in the world who trades these currencies. These people take account of all potential issues which they think will affect rates going forward, the market prices then act as the average of all these opinions.
Whist the actual forward rate now may not come to pass, it is the current view. Any individual who thinks that they can guess currency movements better than the average of every trader in the world should seek employment and their fortune as a currency speculator.
#14
Re: Ups and Downs - first week in Oz
Sue mcDonalds mate, we sue everyone here for everything !!!
#15
Re: Ups and Downs - first week in Oz
Originally posted by ButtonMoon
Sue mcDonalds mate, we sue everyone here for everything !!!
Sue mcDonalds mate, we sue everyone here for everything !!!
Oh yeah that we do !
Oz is the second most litigious country in the world after the United States.